Dune Acquisition Corp II (NASDAQ:IPODU) Shares Up 1.2% – Should You Buy?

Dune Acquisition Corp II (NASDAQ:IPODU)’s share price was up 1.2% during mid-day trading on Tuesday . The stock traded as high as $10.44 and last traded at $10.44. Approximately 3,000 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 84,650 shares. The stock had previously closed at $10.32.

Dune Acquisition Corp II Trading Up 1.2%

The firm’s 50 day moving average is $10.34 and its 200 day moving average is $10.27.

Hedge Funds Weigh In On Dune Acquisition Corp II

Hedge funds have recently added to or reduced their stakes in the company. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Dune Acquisition Corp II in the second quarter valued at approximately $10,200,000. LMR Partners LLP acquired a new stake in Dune Acquisition Corp II during the second quarter worth about $4,080,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Dune Acquisition Corp II during the 2nd quarter worth approximately $4,009,000. Clear Street LLC bought a new position in Dune Acquisition Corp II in the second quarter worth $3,820,000. Finally, JPMorgan Chase & Co. acquired a new position in Dune Acquisition Corp II in the second quarter worth about $153,000.

Dune Acquisition Corp II Company Profile

Dune Acquisition Corp II is a Delaware‐incorporated special purpose acquisition company (SPAC) listed on the Nasdaq under the ticker IPODU. Established in 2021, the company launched an initial public offering to raise capital with the sole purpose of identifying, acquiring, and merging with one or more businesses. As a blank‐check vehicle, it provides private companies with an alternative route to public market access through a business combination.

The company is sponsored by Dune Capital Management LP, a multi‐strategy alternative investment firm based in New York.